BP has reached a compensation settlement with one of the owners of the well which leaked millions of gallons of oil into the Gulf of Mexico last year.
MOEX Offshore, a unit of Japanese trading house Mitsui, has agreed to pay $1.065bn (£657m) to BP to settle all claims between the companies relating to the Deepwater Horizon accident, reports the BBC. BP will pay the money into the $20bn trust created to meet claims relating to the oil spill. Moex owned 10% of the Macondo well. The Deepwater Horizon explosion in April 2010 killed 11 people and led to the worst environmental catastrophe in the US.
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